CT drought could mean further credit downgrade for SA
According economist Mike Schussler, the water crisis is several times worse than load shedding. This is because the lack of access to water is relatively permanent compared to rolling blackouts. This result in many businesses and industries semigrating in order to continue business operations in the country, he said. Schussler believes that major industries such as IT, transport, agriculture as well as exports will be impacted as water scarcity limits businesses and causes Capetonians to look for greener pastures. “We saw with the electricity crisis that South Africa missed out on a lot of growth. A water crisis to me is a few times worse. There’s no rolling blackouts with water. It’s permanent,” Schussler said….